- NEM announced while the blockchain was facing the crisis of being tagged as ‘harmful to the environment
- They claim that crypto donations would benefit the blockchain to be known widely as well as involve in helping for a noble cause
NEM cryptocurrency group has announced on April 3, 2021, that it has collaborated with the Rainforest Foundation, a non-profit organization, to proceed with a donation for the maintenance of Nature, in turn, safeguard all the Rainforests as well as human rights. With this merger, other assets of crypto will get a chance to make donations for such noble causes and in the conservation of Nature. The Foundation is non-profit, which means that the entire funds generated via donations will compensate entirely for Nature’s betterment. These funds will further help in combating the problems of climate change, deforestation, and violation of human rights. The matter of empowering the indigenous tribes of the tropical Amazonian rainforests is closely looked at.
NEM groups future ventures
The NEM group plan to support the communities by maintaining community survivals of the tropical rainforests and providing fresh oxygen with the absorption of the unwanted carbon dioxide in the environment globally. Dealing with the primary cause of climate change would be a future point of concern. According to the RFN Associations data, out of the 14.6 million sq km, 36% of tropical rainforests stand unaffected by deforestation on the planet at large. But the progress rate of deforestation is still on. In the present scenario, the virtual currency can be effectively used for the problems that are being faced by the environment. The prevalent news about the ill-effects of virtual currencies on the environment based on the high consumption of electricity by the virtual currency mines, this news was announced to combat this cause.
Blockchain to gain recognition at large
Another essential point put forward by the NEM Group was that donating to non-profit causes would also prove beneficial to the crypto at large. Their logos would be displayed on the NGOs and other such organizations. It is quite possible to make donations using the tech of blockchain while suppressing the management costs, leading to an improved fund procurement transparency. The outcome would help the NGOs liquidate and use crypto donations without violating their regulations.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.